Discharge of Debt
/ˈdɪsˌtʃɑːrdʒ əv dɛt/
Definitions
- (n.) The legal act of releasing a debtor from the obligation to repay a debt.
The creditor granted a discharge of debt, freeing the borrower from further payments.
- (n.) The extinguishment or satisfaction of a debt by payment or legal release.
The discharge of debt was recorded after the final installment was paid.
Related terms
See also
Commentary
Typically arises in contexts of bankruptcy, settlement, or debt satisfaction; precise effect depends on jurisdiction and contractual terms.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.